Melco opens an office in Thailand
The casino operator is interested in developing an integrated resort once casinos are legalised in the country.
Thailand.- Melco Resorts & Entertainment has opened an office in Bangkok, Thailand, while waiting for the government’s legalisation of casinos in the country.
The Bangkok Post reported that Lawrence Ho, Melco’s chairman and CEO, attended the soft launch of the “THACCA Global Soft Power Talks” event, an initiative spearheaded by the National Soft Power Strategy Committee in collaboration with Melco and scheduled for February 24.
According to the government, the “THACCA Global Soft Power Talks” aims to unite stakeholders in the creative and cultural sectors, propelling Thailand toward becoming a global leader in soft power.
Authorities said: “This program lays the foundation for sustainable growth in the digital and creative economy by fostering innovation and skill development in collaboration with businesses and educational institutions nationwide. It is expected to boost Thailand’s high-value tourism sector and drive long-term sustainable growth.”
The draft bill to legalise casinos proposes 30-year casino licences with the option for a 10-year renewal. Complexes would be located in designated areas and operated by companies registered in Thailand with a minimum paid-up capital of THB10bn (US$283m). A policy panel led by the prime minister and a regulatory agency would oversee the industry.
According to a study by the Fiscal Policy Office (FPO), the establishment of IRs could increase visits to Thailand by 5 to 20 per cent and increase spending per visitor from THB40,000 (US$1,184) to THB60,000 (US$1,776).
Analysts at Citigroup have forecast that casinos in Thailand could generate US$1.91bn annually in gross gaming revenue (GGR). That would surpass the GGR of Singapore’s two casinos and place Thailand “only behind Macau and Las Vegas.”
A Thai government committee is currently analysing how many casino complexes will be allowed to be built in the country. Once the number is decided, the committee will present a report to the cabinet for approval.
Thailand government reportedly plans to legalise online gambling
The government of Thailand is reportedly planning to start discussions about legalising online gambling. According to the Bangkok Post, Deputy Prime Minister Prasert Jantararuangtong urged officials from all relevant ministries to begin coordinating their efforts and said an official study on this plan should be finished in the next few months.
Prasert, who is also Thailand’s digital economy and society minister, said that many legal changes are needed for online gambling to be legal but added that online gambling platforms handle a lot of money daily, and if properly taxed, it could benefit the economy.
As regards the age limit on access to online gambling sites, Prasert indicated that the issue has not yet been discussed.
Former Thai Prime Minister Thaksin Shinawatra had already suggested that regulating online gambling could benefit both the economy and society.
